Wachovia Corp. Monday evening named David Zwiener chief financial officer, marking the first major hire by new chief executive Bob Steel.
The 54-year-old executive from the Carlyle private-equity firm will join the Charlotte bank Oct. 1.
Zwiener was a managing director at Carlyle focused on the financial services industry. He was previously president of property and casualty operations and CFO at The Hartford Financial Services Group insurance company.
Zwiener replaces Tom Wurtz, who said in July he was retiring when his successor was found. Like Steel, Zwiener is a Duke University graduate.
In naming a CFO, Steel, who replaced ousted CEO Ken Thompson in July, fills a key post that serves as the bank's top number-cruncher and a spokesperson to Wall Street analysts. The job is critical because Wachovia is looking to restore investor credibility after a series of missteps, including its disastrous 2006 purchase of mortgage specialist Golden West Financial Corp.
Read the complete story at Charlotte Observer.com.